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WHEN RECORDED MAIL TO:
<br />United Nebraska Box 60t 601 H
<br />Office ce 200307021
<br />ED Grand
<br />Grand Island NE 68802 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />3S
<br />s
<br />0
<br />THIS DEED OF TRUST is dated May 24, 2003, among Jeffrey B. O'Callaghan and Sherri L. O'Callaghan,
<br />whose address is 4081 Manchester Rd., Grand Island , NE 68803 ("Truster"); United Nebraska Bank, whose
<br />address is Grand Island Office, PO Box 5018, Grand Island, NE 68802 Ireferred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary" 1; and United Nebraska Bank , whose address is 700 N. Webb, Grand
<br />Island, NE 68802 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT, For valuable consideration, Truster conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Truster 'a right, title, and interest In and to the following described real property, together with all existing or
<br />suUSequeotly erected or aff,..d buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights )including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property including without limitation all minerals, it gas, geothermal and similar matters, (the 'Beal Property ") located in Hall
<br />County, State of Nebraska:
<br />Lot Forty (40). Jeffrey Oaks Sixth Subdivision, in the City of Grand Island, Hall County. Nebraska.
<br />The Real Property or its address is commonly known as 4081 Manchester Rd., Grand Island , NE 68803.
<br />Truster presently sasgns to Lender (also known as Beneficiary In this Dead of Treat) all of Theater's right, title, and interest in and to all
<br />present and future leases of the Property and all Hants from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security interest In the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE :AI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Dead of Trust, Truster shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and In a timely manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default Trustor may It) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve Its value.
<br />Compliance With Envkonmental Laws. Treater represents and warrants to Lender that: 01 During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of any
<br />Environmental Laws, Ib) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or of any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender In writing, (a) neither Trustor nor any tenant, contractor agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and Ibl any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitaninn all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />nlearwp or other costs under any such laws; and 121 agrees to Indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Truster 'a ownership or Interest In the Property, whether or not the same was or should have been known to Trustor.
<br />The pmvienne of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconvayance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition
<br />of any Interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or aste an
<br />a m the Property or any portion of the Property , Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any Other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not de bellsh or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lenders Right to Enter. Lender and Lender 'a agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's Interests and to Inspect the Real Property for purposes of Truster 'a compliance with the terms and conditions of
<br />this Deed of Trust.
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<br />WHEN RECORDED MAIL TO:
<br />United Nebraska Box 60t 601 H
<br />Office ce 200307021
<br />ED Grand
<br />Grand Island NE 68802 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />3S
<br />s
<br />0
<br />THIS DEED OF TRUST is dated May 24, 2003, among Jeffrey B. O'Callaghan and Sherri L. O'Callaghan,
<br />whose address is 4081 Manchester Rd., Grand Island , NE 68803 ("Truster"); United Nebraska Bank, whose
<br />address is Grand Island Office, PO Box 5018, Grand Island, NE 68802 Ireferred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary" 1; and United Nebraska Bank , whose address is 700 N. Webb, Grand
<br />Island, NE 68802 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT, For valuable consideration, Truster conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Truster 'a right, title, and interest In and to the following described real property, together with all existing or
<br />suUSequeotly erected or aff,..d buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights )including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property including without limitation all minerals, it gas, geothermal and similar matters, (the 'Beal Property ") located in Hall
<br />County, State of Nebraska:
<br />Lot Forty (40). Jeffrey Oaks Sixth Subdivision, in the City of Grand Island, Hall County. Nebraska.
<br />The Real Property or its address is commonly known as 4081 Manchester Rd., Grand Island , NE 68803.
<br />Truster presently sasgns to Lender (also known as Beneficiary In this Dead of Treat) all of Theater's right, title, and interest in and to all
<br />present and future leases of the Property and all Hants from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security interest In the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE :AI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Dead of Trust, Truster shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and In a timely manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default Trustor may It) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve Its value.
<br />Compliance With Envkonmental Laws. Treater represents and warrants to Lender that: 01 During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of any
<br />Environmental Laws, Ib) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or of any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender In writing, (a) neither Trustor nor any tenant, contractor agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and Ibl any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitaninn all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />nlearwp or other costs under any such laws; and 121 agrees to Indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Truster 'a ownership or Interest In the Property, whether or not the same was or should have been known to Trustor.
<br />The pmvienne of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconvayance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition
<br />of any Interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or aste an
<br />a m the Property or any portion of the Property , Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any Other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not de bellsh or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lenders Right to Enter. Lender and Lender 'a agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's Interests and to Inspect the Real Property for purposes of Truster 'a compliance with the terms and conditions of
<br />this Deed of Trust.
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